All Forum Posts by: Adam Anderson

Hi Jeremy Masson. Can you recommend hard money lenders you had a good experience with pls?

Yelp had a thread that suggest it's a scammer and the business is listed as permanently closed. Be wary of companies with little to no favorable reviews. Common sense.

I'm looking for a home equity line of credit for investment property in a second lien position. Also, I am self employed. I tried with PenFed but apparently they prefer W2 over self employed. Any suggestions? (I have a $250k rental property with tenants. $100k in first mortgage, $150k in equity). I need about 80% of the $150k to be worth it.

I'm looking for a home equity line of credit for investment property in a second lien position. Also, I am self employed. I tried with PenFed but apparently they prefer W2 over self employed. Any suggestions? (I have a $250k rental property with tenants. $100k in first mortgage, $150k in equity). I need about 80% of the $150k to be worth it.

@Steven Griffith  Turns out they don't take self employed, they only loan off of W2s which is very weird considering it's equity based. But thanks for reaching out.

Hi @Steven Griffith

Someone posted that you cannot use the heloc from pen fed on investment properties, how does one get past that without lying?

thx

The same thing happened to me Greg, I guess most of the responders here don't really care because it's not their money or they think they are CSI or something, lol.

I have dealt with Ed Franklin and he knows me very well. He'll give you any excuse imaginable (I have a Dr's appt for my heart problem/my daughter is having brain surgery), so he doesn't have to do the deal. I had a prop tied up as well with a wholesaler and he simply had to walk away from me because of my inability to close the deal. I didn't tell the wholesaler that I was dealing with a loan shark or CONMAN.

Nevertheless, I confronted Mr. Ed Franklin on the phone with his scheme and his multiple LLC's over the years and called him a CONMAN. Of course he denied it but he gave me my money back, especially since I told him that I was going to file a complaint with the SEC and the State Atty General's office, which I recommend you do as well. He'll continue screwing people over until he's raided by the feds. He attempted to screw me over a few months BEFORE he screwed you over so that lets me know he hasn't learned his lesson. Shame.

My experience with Joe Grump. After about 3 emails where I asked him basic questions about what I can expect from his material, he will respond back with his audio message, where you can barely hear what he has to say because he mumbles, that you'll have to upgrade to the mentor program (10k) before he'll continue communicating with you. I was a bit put off with that and thought it was a bit bold.

While I was fullish for investing the $995 for the automarketer which seemed like it could be a good business move, I luckily didn't fall for his mentor program.

Nevertheless, I spent the $995 for the automarketer program and Joe still wouldn't return my emails, even though the questions I was asking were still related to my purchase, I wasn't asking him to cosign a house for me or anything like that. So I just listened to all the instructional videos that gave specifics details about navigation and usability of the page.

In short, I think I got a collective total of 25 leads on Zillow and Craigslist and they all told me the were disinterested in a lease option arrangement. I ran the campaign twice, with even less results. Sometimes the "scraper" would take forever to scrape or it would say "pending" for 48 hours or so, so I initiated a support ticket to inquire on if I was using it properly or not and never heard back. It does say at the top of the automarketer page that it's a new scraper for Craigslist and they are getting the bugs out, etc...but why are were paying for something that doesn't work properly. His website was showing leads like 250 per scrape while I had about 10% of that. Houston is not a small city.

So then I sent Joe an audio email telling him how dissatisfied I was with his product and wanted to take advantage of the money back guarantee; guess what? I never heard back.

I did some more digging online and found that 99% of the people that had used his stuff were overall dissatisfied to some extent and regret the purchase and wasted time. The 1% that said something remotely positive looked like bot replies.

Don't waste your time/money. FRUSTRATED.

My experience with Joe Grump. After about 3 emails where I asked him basic questions about what I can expect from his material, he will respond back with his audio message, where you can barely hear what he has to say because he mumbles, that you'll have to upgrade to the mentor program (10k) before he'll continue communicating with you. I was a bit put off with that and thought it was a bit bold.

While I was fullish for investing the $995 for the automarketer which seemed like it could be a good business move, I luckily didn't fall for his mentor program.

Nevertheless, I spent the $995 for the automarketer program and Joe still wouldn't return my emails, even though the questions I was asking were still related to my purchase, I wasn't asking him to cosign a house for me or anything like that. So I just listened to all the instructional videos that gave specifics details about navigation and usability of the page.

In short, I think I got a collective total of 25 leads on Zillow and Craigslist and they all told me the were disinterested in a lease option arrangement. I ran the campaign twice, with even less results. Sometimes the "scraper" would take forever to scrape or it would say "pending" for 48 hours or so, so I initiated a support ticket to inquire on if I was using it properly or not and never heard back. It does say at the top of the automarketer page that it's a new scraper for Craigslist and they are getting the bugs out, etc...but why are were paying for something that doesn't work properly. His website was showing leads like 250 per scrape while I had about 10% of that. Houston is not a small city.

So then I sent Joe an audio email telling him how dissatisfied I was with his product and wanted to take advantage of the money back guarantee; guess what? I never heard back.

I did some more digging online and found that 99% of the people that had used his stuff were overall dissatisfied to some extent and regret the purchase and wasted time. The 1% that said something remotely positive looked like bot replies.

Don't waste your time/money. FRUSTRATED.